Shares in International Consolidated Airlines Group, known as IAG, the FTSE 100 stable of carriers whose largest constituent is British Airways, have over the past year traded in a fairly narrow band between 135p and 170p. Currently changing hands at 156p, IAG stock is flat on where it was a year ago.
It is by a long way the poorest performer of the UK-centric airlines. Shares in easyJet are up 14 per cent over the past 12 months. Ryanair stock has gone up 36 per cent.
But these two European short-haul airlines with lower-cost business models than the legacy carriers, which they have successfully disrupted, are in favour with investors, who see the easy gains in a capacity-constrained European market that is still enjoying good
